Syndax Pharmaceuticals (NASDAQ:SNDX) Downgraded to “Sell” Rating by StockNews.com

StockNews.com lowered shares of Syndax Pharmaceuticals (NASDAQ:SNDX) from a hold rating to a sell rating in a report published on Saturday morning.

A number of other equities analysts have also recently issued reports on the stock. The Goldman Sachs Group increased their price objective on shares of Syndax Pharmaceuticals from $30.00 to $33.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Stifel Nicolaus increased their target price on Syndax Pharmaceuticals from $40.00 to $41.00 and gave the stock a “buy” rating in a report on Monday, October 14th. JPMorgan Chase & Co. upped their price target on Syndax Pharmaceuticals from $33.00 to $38.00 and gave the company an “overweight” rating in a research report on Thursday. Barclays boosted their target price on shares of Syndax Pharmaceuticals from $32.00 to $33.00 and gave the company an “overweight” rating in a research note on Thursday, August 15th. Finally, HC Wainwright boosted their price target on shares of Syndax Pharmaceuticals from $49.00 to $51.00 and gave the company a “buy” rating in a research report on Monday, November 18th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, Syndax Pharmaceuticals currently has an average rating of “Moderate Buy” and an average target price of $37.64.

Syndax Pharmaceuticals Trading Up 3.1 %

Shares of SNDX stock opened at $16.09 on Friday. Syndax Pharmaceuticals has a 1 year low of $15.00 and a 1 year high of $25.34. The firm’s fifty day simple moving average is $18.60 and its 200 day simple moving average is $20.00. The firm has a market capitalization of $1.37 billion, a P/E ratio of -4.43 and a beta of 0.92.

Syndax Pharmaceuticals (NASDAQ:SNDX) last released its earnings results on Tuesday, November 5th. The company reported ($0.98) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.13) by $0.15. The firm had revenue of $12.50 million for the quarter, compared to analyst estimates of $9.16 million. During the same period last year, the business earned ($0.73) earnings per share. Equities research analysts anticipate that Syndax Pharmaceuticals will post -3.69 EPS for the current fiscal year.

Institutional Investors Weigh In On Syndax Pharmaceuticals

A number of institutional investors and hedge funds have recently made changes to their positions in SNDX. Vanguard Group Inc. increased its position in Syndax Pharmaceuticals by 13.6% in the first quarter. Vanguard Group Inc. now owns 4,926,984 shares of the company’s stock worth $117,262,000 after purchasing an additional 591,631 shares during the period. State Street Corp grew its position in shares of Syndax Pharmaceuticals by 4.1% during the 3rd quarter. State Street Corp now owns 3,770,826 shares of the company’s stock worth $72,588,000 after buying an additional 148,491 shares during the period. Sofinnova Investments Inc. raised its stake in shares of Syndax Pharmaceuticals by 33.9% during the second quarter. Sofinnova Investments Inc. now owns 2,153,669 shares of the company’s stock worth $44,215,000 after buying an additional 545,129 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Syndax Pharmaceuticals by 3.5% in the third quarter. Geode Capital Management LLC now owns 1,977,082 shares of the company’s stock valued at $38,066,000 after buying an additional 66,459 shares during the period. Finally, First Turn Management LLC boosted its stake in Syndax Pharmaceuticals by 85.4% in the third quarter. First Turn Management LLC now owns 1,187,165 shares of the company’s stock valued at $22,853,000 after acquiring an additional 546,776 shares during the last quarter.

About Syndax Pharmaceuticals

Syndax Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, develops therapies for the treatment of cancer. Its lead product candidates are revumenib, a potent, selective, small molecule inhibitor of the menin-MLL binding interaction for the treatment of KMT2A rearranged, acute leukemias, and solid tumor; and SNDX-6352 or axatilimab, a monoclonal antibody that blocks the colony stimulating factor 1, or CSF-1 receptor for the treatment of patients with chronic graft versus host disease (cGVHD) and idiopathic pulmonary fibrosis (IPF).